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Lessees’ Rights on Foreclosure and on Sale

Lisa C. Coppolo — Thu, 19 Jun 2008 09:41:06 GMT

When real property is sold during the term of a lease, the rights and responsibility of the lease apply to the tenant and new owner; however, a foreclosure judgment will terminate the lease, particularly if the lessee is named as a defendant in the foreclosure action.

Lessee's Rights on Sale

There are many legitimate reasons- such as a bad credit report, unstable employment history or bad prior landlord references- for a landlord to reject a tenant, but a landlord may not treat a tenant differently based on any of the following reasons:

Race
Color
Many homeowners receive solicitations to refinance their homes or to take home equity loans. The solicitations come in the mail, making it sound as if monthly payments would be greatly reduced and that the homeowner would be left with extra money to pay off other credit bills, to make home improvements, or to invest. Knowing how to read the solicitation and advise the client as to whether to accept the offer is an important skill the new

Bankruptcy Control over Foreclosures

Mon, 12 May 2008 08:28:53 GMT

Federal Reserve Chairman Ben Bernanke announced that in 2007 there were 1.5 million home foreclosures, up 53 percent from 2006, and it looks as though 2008 the rate of new foreclosures will be even higher. One of the issues debated in Congress is whether a bankruptcy judge should have authority to modify the interest rate on home mortgages in chapter 13 bankruptcy cases in order to prevent foreclosure and allow the homeowners to retain t

Condemnation/Eminent Domain

Lisa C. Coppolo — Wed, 30 Jan 2008 08:07:32 GMT

The U.S. Supreme Court decision in Kelo v. New London, Conn.—affirming the right of governments to use the power of eminent domain to take private property for private economic development projects—was the most controversial condemnation case in decades and set off a firestorm of criticism. By the end of 2006, more than half of the states had enacted eminent domain reform legislation in response to Kelo, and several additional states hav

Subprime Lending

Lisa C. Coppolo — Wed, 30 Jan 2008 08:06:43 GMT

Subprime loans made to higher-risk borrowers are roiling the mortgage market because rising interest rates and stagnant or declining home values have led to trends similar to the following:

• Soaring subprime mortgage defaults and foreclosures.

• More than 20 subpr

The Home Equity Theft Prevention Act

Lisa C. Coppolo — Fri, 30 May 2008 11:20:17 GMT

New York has enacted legislation to protect owners of distressed properties from predatory practices by purchasers. In his Expert Commentary, Alfred C. Tartaglia discusses the Home Equity Theft Prevention Act, its effect on title insurance, and its application to overdue mortgage payments. Following are excerpts of the commentary:

The Home Equity Theft Prevention Act (HETPA), effective as of February 1, 2007, i

The Perfect Storm: Legal Issues Surrounding the Subprime Mortgage Lending Crisis

Lisa C. Coppolo — Wed, 30 Jan 2008 08:10:35 GMT

Robert M. Jaworski analyzes the "perfect storm" that has hit the subprime mortgage industry--including what caused the storm and what the effects of the storm have been. Mr. Jaworski writes:

Speculation and frau

Real Estate Law 101: The Basics

Lisa C. Coppolo — Fri, 21 Mar 2008 08:08:11 GMT

Real estate law, also referred to as real property law, involves rights to own, use, encumber, and transfer land and permanent additions (such as buildings) attached to the land. Due in part to the importance of real estate to our culture and economy, real estate is a major practice area, as evidenced by the fact that the real property law sections of state bars consistently rank in the top three in number of members.

There are two basic types of real estate practice; typically, a

Typical Tasks Performed by Real Estate Attorneys

Lisa C. Coppolo — Wed, 30 Jan 2008 07:22:38 GMT

Drafting, reviewing, or negotiating documents/forms (e.g., purchase and sale agreement, commercial or residential lease).

Representing a party in litigation (e.g., a landlord or tenant in an eviction action; a builder or homeowner in a construction defects action).

Presenting a client’s development proposal to the public at a community board hearing. <

Types of Legal Content Typically Relied Upon by Real Estate Attorneys

Lisa C. Coppolo — Wed, 30 Jan 2008 07:23:28 GMT

Forms (unofficial) (e.g., lease; purchase and sale agreement; deed; CC&Rs; easement agreement).

Forms (official) (e.g., IRS; HUD; forms issued by state agencies regulating real estate brokers/agents, subdivisions, condominiums, etc.; forms issued by local agencies and pertaining to tax assessments, zoning, etc.).

Checklists (e.g., client intake; handling

Obtain Authoritative Treatises and Expert Legal Analysis at the LexisNexis Bookstore

Lisa C. Coppolo — Fri, 29 Feb 2008 19:28:40 GMT

The LexisNexis® Bookstore provides the most comprehensive collection of legal research products available on the web, with the full LexisNexis Publishing^TM line of Matthew Bender®, Michie^TM, and Shepard's® products available to assist with your research. Using the Bookstore is easy -- you can browse through specific areas or you can submit a keywor

Map a path to success for your clients

Lisa C. Coppolo — Mon, 03 Mar 2008 09:08:44 GMT

Take your clients forward with the new Lexis® Transactional Advisor, combining due diligence tools, analysis and practice capabilities—all in one solution. At the Real Estate Practice Center, you can

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